Trupanion, Inc (TRUP) saw its loss narrow to $1.64 million, or $0.06 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $4.64 million, or $0.17 a share. Revenue during the quarter grew 27.71 percent to $48.36 million from $37.86 million in the previous year period. Gross margin for the quarter expanded 17 basis points over the previous year period to 17.58 percent. Operating margin for the quarter stood at negative 3.19 percent as compared to a negative 12.17 percent for the previous year period.
Operating loss for the quarter was $1.54 million, compared with an operating loss of $4.61 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.30 million compared to negative $3.21 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 0.63 percent for the quarter compared to negative 8.48 percent in the last year period.
“Our third quarter financial performance reflects our continued focus on balancing revenue growth against return on investment spend,” said Darryl Rawlings, Chief executive officer of Trupanion. “We again realized positive free cash flow in the quarter. Our strong financial position enables us to invest in the continued growth of Trupanion through cost effective pet acquisition and by improving the customer experience.”
Operating cash flow turns positive
Trupanion, Inc has generated cash of $1.57 million from operating activities during the nine month period as against cash outgo of $9.77 million in the last year period. The company has spent $5.09 million cash to meet investing activities during the nine month period as against cash outgo of $6.62 million in the last year period.
Cash flow from financing activities was $5.95 million for the nine month period as against cash outgo of $14.63 million in the last year period.
Cash and cash equivalents stood at $20.63 million as on Sep. 30, 2016, down 4.90 percent or $1.06 million from $21.69 million on Sep. 30, 2015.
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